Morning journal and courier. [volume] (New Haven [Conn.]) 1848-1894, 1887-10-08

Demand has been made upon
me for some three thou
sand of this from bank
ers claiming under trust
receipts-a demand that -
do not acknowledge. 5000 90 1851 02
ture, about. 49, 10000 90
three thousand dollars,
provided bankers sustain
der r trust receipts pt.i.s IN 5000 90 $1,000 90
Bills receivable, said to be
OF these Eeee s1,546 os have been s'0 20
under trust receipts 1876 os o1o 4s
Book accounts reported good
From this / deduct twenty '''-' ~
thousand dollars as
claimed under trust
in other States 'a 10000 90 5O,11e IS
Five shares Florence Ma
chine Co. estimated rs w
Eor ssts s1d ssri's;. = s@t 1895, ssS 60 60
Cash value of life insurance ooo M
Due from the New Haven
Wire company ....-....: 291,184 %
The receiver advises me that
he thinks he will be able
to pay upon this about
fifteen per cent. Should
the trust receipts of for
eign bankers be set aside
creased considerably 1857 "a
1875 shares of New Haven
stock, Of which 995 shares
are hypothecated. hope
for alittle in this say. 1000 90
i0 Va liable somet@e ~ NC $151,e4O "A
have endeavored to show
the state of the assets
I find them to-day, de-
ducting everything
claimed. Whether they
will increase or dimin-
ish time and the law will
determine.
The following are of little
value:
B st,as 1 ssss1nss i $751; 81
1,s49 shares of New Haven
$4,000, 81 which s14
One share of United States
Upon a1,t this st there is lien Of ''''' "
ance, and in addition two
attachments by New
York creditors.
The liabilities shown by the books one mil
lion two hundred and fifty one thousand four hun
bred and forty-f1ve dollars and eixty one cents
($1, 251, 4456D To this must be added sixty Eight
thousand three hundred and thirty dollars and
teen cents S6S $50 16. guarantors on letters of
S1,sIS,SS577 In this amount between three and
four hundred thousand dollars properly belongs to
dorsement Of B. s. Wheeler & Co., the claims are
some fifty thousand liabilities said to be fully
cured by collateral There is also contingent liza
lars, but have reason to believe that most if not
all this paper will be paid.
final adjudication of claims vary the foregoing
clements that will probably lead to much litiga-
ton.
on my part settling this estate let it be borne in
mind that the settlement is contingent upon seven
otherestates Very respectfully,
S. E. MERwIN, Trustee.
A movement of much Importance by the
creditors in the E. S. Wheeler & Co. case not
ton and appears likely like previous effort,
to end in failure. This is in short move
ment in which a concert of action has been
reached by the New Haven banks and the
Hartford banks and only needs for its suc-
cess the favorable cooperation of the New
York banks and banking concerns that are
creditors of Wheeler & Co. The plan was
the formation of new joint stock company
to operate the New Haven wire mill in inter-
est of the stockholders, the stock to be held
by the creditors divided among them pro rata
according to the amount of the Wheeler
tate Indebtedness to them. 1t was felt that
the wire mill plant was too valuable to be
thrown away or lost and that if the business
was taken on the new basis and operated it
would pan out well for the creditors. Ex-
Governor Bigelow went to Hartford and con-
ferred with the officers of the Hart
ford banks having claims against
the insolvent estate. The result was
highly satisfactory, but snag was struck
when the New York creditors were reached,
who have their grip on the valuable lots of
wire rods at the wire mill through the legal
proceedings they have instituted. Up to the
present time they have not yielded nor fall
en- in with the proposition in question, and
it is feared they will stand out and refuse to
80 operate, in which case the whole move
ment probably falls through.
Quite independent of the above it is under
stood that a small joint stock company will
be formed to carry on portion of the bust
ness of E. S. Wheeler & Co.